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I believe you lack understanding of BTC monetary policy. I'm 100% sure you don't think you do though. BTC is at the point where if you don't have time or want

I believe you lack understanding of BTC monetary policy. I'm 100% sure you don't think you do though. BTC is at the point where if you don't have time or want to research what it really is, and only want to believe talking heads and authority figures, no one is going to take the time to explain it to you. Those days are over, people have moved on and are using it for utility, without permission, how they see fit, whether as a currency or store of value. Nothing can prevent a BTC transfer to anyone, anywhere, and at anytime. That is why China 'banned' it.

UncleMeat 5y ago
> I believe you lack understanding of BTC monetary policy. I am so tired of people insisting that I simply don't know anything. The mining curve is monetary policy. For example, a 100% premined coin has very different properties than a coin with a fixed mining rate and no upper bound. The upper bound on the number of bitcoins is consistently pointed at by proponents as a means to prevent inflation. I can imagine no other phrase for this than "monetary policy".
- plebianRube 5y ago
  You claim you're tired of insisting you don't know anythig, yet you beleive you have no democratic say in BTC monetary policy. You don't know what you don't know.
  - UncleMeat 5y ago
    I do not get a vote in BTC monetary policy by virtue of being a human. I'd get a vote according to my hash rate if I bought a mining rig. That isn't democracy.
    - plebianRube 5y ago
      Like I said, you don't know what you don't know.
      - UncleMeat 5y ago
        Then share. I assure you that I am capable of understanding.
        plebianRube 5y ago
        Why? The information is yours to seek. People only eat for a day when you give them a fish.
        UncleMeat 5y ago
        I'm seeking it right now. So let's try again. The mining curve is reasonably described as monetary policy, seeing as it has a major impact on the distribution of coins and on inflation, which many crypto advocates worry about very deeply. The mining curve was defined by Satoshi based on their original implementation. If there was to be a change in the mining curve we would need (1) a new version of the btc codebase that does mining rewards differently and (2) for the miners to swap to this fork. There is no mechanism for me, as a single person, to have a voice in this process except through contributing hash power to my preference. This is an amount of voting power associated with my wealth. That is antidemocratic. Or do you want to just keep telling my that I am mysteriously ignorant over and over? That'll certainly endear people to the community.
    - salawat 5y ago
      That's not a vote on monetary policy. A vote on monetary policy is forking the algorithm and changing the nature of the cap. Bitcoin and cryptocurrency es is a bunch of tech bros assuming they can run or set up a better monetary system than everyone else... ...without realizing that transaction media are an extremely powerful political and diplomatic tool, integral to maintaining national security, and will get stomped relatively quickly given enough time for governments to wrap their head around it.
      - UncleMeat 5y ago
        You can fork the algorithm if you have a sustained >50% hash rate. I suspect that with BTC this will never happen in a meaningful way since something as basic as block sizes caused an insurmountable rift in the community.

UncleMeat 5y ago

> I believe you lack understanding of BTC monetary policy. I am so tired of people insisting that I simply don't know anything. The mining curve is monetary policy. For example, a 100% premined coin has very different properties than a coin with a fixed mining rate and no upper bound. The upper bound on the number of bitcoins is consistently pointed at by proponents as a means to prevent inflation. I can imagine no other phrase for this than "monetary policy".

plebianRube 5y ago
You claim you're tired of insisting you don't know anythig, yet you beleive you have no democratic say in BTC monetary policy. You don't know what you don't know.
- UncleMeat 5y ago
  I do not get a vote in BTC monetary policy by virtue of being a human. I'd get a vote according to my hash rate if I bought a mining rig. That isn't democracy.
  - plebianRube 5y ago
    Like I said, you don't know what you don't know.
    - UncleMeat 5y ago
      Then share. I assure you that I am capable of understanding.
      - plebianRube 5y ago
        Why? The information is yours to seek. People only eat for a day when you give them a fish.
        UncleMeat 5y ago
        I'm seeking it right now. So let's try again. The mining curve is reasonably described as monetary policy, seeing as it has a major impact on the distribution of coins and on inflation, which many crypto advocates worry about very deeply. The mining curve was defined by Satoshi based on their original implementation. If there was to be a change in the mining curve we would need (1) a new version of the btc codebase that does mining rewards differently and (2) for the miners to swap to this fork. There is no mechanism for me, as a single person, to have a voice in this process except through contributing hash power to my preference. This is an amount of voting power associated with my wealth. That is antidemocratic. Or do you want to just keep telling my that I am mysteriously ignorant over and over? That'll certainly endear people to the community.
  - salawat 5y ago
    That's not a vote on monetary policy. A vote on monetary policy is forking the algorithm and changing the nature of the cap. Bitcoin and cryptocurrency es is a bunch of tech bros assuming they can run or set up a better monetary system than everyone else... ...without realizing that transaction media are an extremely powerful political and diplomatic tool, integral to maintaining national security, and will get stomped relatively quickly given enough time for governments to wrap their head around it.
    - UncleMeat 5y ago
      You can fork the algorithm if you have a sustained >50% hash rate. I suspect that with BTC this will never happen in a meaningful way since something as basic as block sizes caused an insurmountable rift in the community.